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Message
re: New Crypto Launching In 2023 – PulseChain
Posted on 8/5/23 at 8:14 am to tenderfoot tigah
Posted on 8/5/23 at 8:14 am to tenderfoot tigah
quote:
It's exactly like a bank CD. Do you consider bank CDs ponzis?
The fact Heart has this many believers regarding Hex is incredible.
You give the bank money for some defined time, they reward you with interest. That’s the only similarity between Hex and real CDs. The real difference is why the bank wants your money in the first place - to loan it out and generate return for themselves but also generate real economic activity. That cycle is what makes it not a Ponzi scheme, never mind the other differences like the security of the deposit, the stability of the currency, etc.
Saying Hex is just like a bank CD is an insult to the intelligence of this board.
2
Posted on 8/5/23 at 1:21 pm to slackster
Wait so is the idea behind this that you give up (stake?) more established crypto for a time period and the longer the time period the more made up token you get in return in the future? So in a year you can get an abundance of tokens that have no actual value tied to anything but itself?
Posted on 8/5/23 at 3:30 pm to slackster
quote:
You give the bank money for some defined time, they reward you with interest. That’s the only similarity between Hex and real CDs. The real difference is why the bank wants your money in the first place - to loan it out and generate return for themselves but also generate real economic activity. That cycle is what makes it not a Ponzi scheme, never mind the other differences like the security of the deposit, the stability of the currency, etc.
HEX does the exact same thing except the smart contract better. HEX eliminates the middleman (the bankers) allowing you to do the work yourself and earn 100% of the returns.
I'm not going to loan out money to someone else when I can use a trustless smart contract to generate significantly more yield than traditional finance.
Your retarded definition of a Ponzi scheme now defines all of crypto as a Ponzi scheme. Good job.
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